Why Should You Treat Foreign Currency

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Why Should You Treat Foreign Currency Exchange Trading as a Business? :

Why Should You Treat Foreign Currency Exchange Trading as a Business? By: Jay Molina From: http://myfxventure.com/

Slide 2:

Today I’m going to be talking about why Forex should be treated as a business. As an investor I am all about the bottom line, if a business is worth my time, it should be able to pay its own expenses and make me money at the same time. This is why you should trade your trading as a business, because money doesn’t have emotions nor should you as a trader! (Please note I said as a trader. you can be emotional with your wife or hubby! But not with your account!). This is the same approach I use for foreign currency exchange trading .

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Finding money for your trading business Trading the Forex is one of the most inexpensive investments there is. You have access to free demo accounts, tons of free resources, courses, video tutorials, free webinars, etc. The main expenses come from mistakes. Most traders spend a ton of money on trading systems and courses before they become profitable. So the formula to make your trading less expensive is: Invest more time on learning + spending less money= more money to trade! Try to find how to reduce the amount of money you spend per month so that you can have more money to trade the markets.

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Finding the best resources for your trading business I have always said: it is not what you do but how you do it. The Forex is a giant financial battle field and you don’t want to go there empty handed and untrained. Allow yourself to trade the right way. Of course this blog can be very useful to you since I post here daily insider secrets and tips that have allowed me to increase one of my trading accounts by 80% in only 8 weeks (of course this doesn’t happen all the time, but when it happens it is a happy feeling). You also might want to get a demo account (if you don’t have one already). I will keep you up to date on any useful resources I come up with or I find online, so stay tuned.

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Have a fall back plan What would you do if you lose all of your trading capital? What is your plan? I hope this never happens to you but if it does you need to be prepared, even if you lose 10% of your account you still need to have a fall back plan. A good fall back plan is to not invest all of your capital in the same account. When you first start to trade you should trade only 10% of your total trading capital, so if you have $10,000 in savings that you are going to use for trading , start small and open an account with $1,000. If you blow this account you still have $9,000 to trade in the bank. Don’t forget, get a fall back plan, it can save your tail! No matter what you are trying to achieve through Foreign currency exchange trading, when you treat it as a business it will allow you to separate your trading career from your personal life, as a result you will be able to focus more on your trading and of course have a better performance. Best Regards, Jay Molina Advanced Forex trader & strategy analyst Power is knowledge, and for a limited time I’m empowering traders from all over the world by giving them FREE access to my $2,000 Forex trading course, The Smart Trader Pro! Click here to grab your copy now! ====> http://myfxcourse.com/